Net Zero goals at risk as energy crisis affects businesses ability to meet emissions reduction plans

Nearly 80% of business leaders in the UK and Ireland believe the ongoing energy crisis will have an affect on their organisation hitting the emission reductions plans.

New research by Schneider Electric suggests that nearly half of the organisations (49%) that raised concerns have decided to delay planned net zero investments.

Given where the current price of energy, nearly 41% of these companies have ploughed resources into more immediate business challenges, taking precedence over their carbon net zero objectives.

Additionally, nearly 46% of the organisations noted that their stakeholders no longer consider emission reduction targets as high priority issues.

Given that the world still relies on gas for gas for power generation, we can’t get away from the issue as we are all very reliant on imported gas now that Russia no longer supplies Europe.

As we all compete for the same finite commodity, situations like strikes in Australia and plant maintenance in Norway and America all have significant impact on the price businesses have to pay for their gas.

The entire supply chain feels this pain so there is no getting away from it. A businesses focus is currently on margins and survival mode and it looks like planned net zero targets will unfortunately have to take a back step for the time being.

Track price trends

Track the latest changes to the wholesale price of gas and electricity by using our weekly price tracker.

Changes to the wholesale market has a significant impact on the price a business will pay for its energy so it is really important that you keep up to date with the latest changes.